US Credit-Card Cos Still Under Pressure, According To New Data

Data released Tuesday by the major U.S. credit-card issuers reinforce the challenges facing lenders.

The latest numbers, from issuers including Capital One Financial Corp. (COF), JPMorgan Chase & Co. (JPM) and Bank of America Corp. (BAC), indicate that consumers remain stressed by high rates of joblessness. Delinquency rates, a key gauge of future losses, continue to rise for most card issuers, and losses stemming from souring credit-card loans remain elevated.

The data suggest the U.S. is unlikely to experience a smooth economic turnaround. Moreover, seasonal trends pose additional risks: Strapped consumers may increase spending in the holiday season on their credit cards, which could lead them to fall even deeper into debt.

Read Full Article from CNNMoney.com

- Posted: 2009-12-15 11:33:50

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